Goldman-backed Rothesay Life to acquire MetLife unit

February 18, 2014 by Warren S. Hersch

(Bloomberg) — Rothesay Life Ltd., the insurer run by Goldman Sachs Group Inc. Managing Director Addy Loudiadis, agreed to buy a U.K. annuity business with about 3 billion pounds ($5 billion) of assets under management from MetLife Inc.

The deal for MetLife Assurance covers benefits to more than 20,000 individuals in the U.K. and Ireland, according to a statement today from the companies.

Rothesay, whose investors include Goldman Sachs, Blackstone Group LP and Singapore’s sovereign wealth fund, has been expanding in the retirement business as U.K. employers turn to insurers to handle obligations to former employees.  Click here to read…

Originally Posted at LifeHealthPro on February 18, 2014 by Warren S. Hersch.